A BTC wallet stores private keys and uses them to create and sign transactions, broadcast them to the blockchain and read them, in order to check balances.
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- Describe in short what a bitcoin wallet does.
A bitcoin/cryptocurrency wallet stores your private key, and creates, signs and broadcasts transactions to the nodes on the network. When a transaction is received, the wallet reads the transaction and notifies the owner of the transaction.
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Wallet:
Holds private key
signs transactions
broadcasts signed transactions
reads the blockchain (thatâs how it knows that youâve received money)
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The wallet doesnât store any cryptos, only the keys to access them on the blockchain 
A Bitcoin wallet basically allows to receive and send Bitcoin. In more detail it:
- Stores private keys
- Creates and signs transactions
- Broadcasts transactions to the network
- Reads the blockchain to return your balance
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A bitcoin wallet does not hold any coins. But this is what a bitcoin wallet does do:
-It stores your private key
-It uses your private key to generate a public key
-Your public key is available to the public to send transactions to you
-It uses the private key to sign transactions before sending to the bitcoin network
-It checks the the blockchain and updates transactions.
Types of bitcoin wallets:
-Full Node Wallet- can check and store the entire blockchain with in it
-SPV Wallet- (Simple Payment Verification) Wallet- enables light clients(wallets running on low-end systems, like a cell phone) to verify transactions have been included on the blockchain and provides confirmations that additional blocks are being added to the blockchain
-Paper wallet- stores your private key offline so that no bad actors online can access your private key
-Hardware wallet- Secures private keys in a hardware device, usually a usb type device.
-Hot Wallets- Example: Coinbase. Are directly connected to the internet at all times and you connect to the internet to access your wallet.
Hot wallets are convenient but less secure.
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You mean the ledger nano doesnât hold the cryptos? I thought it was a hard wallet that hold cryptos, and a soft wallet that doesnât. Please confirm as Iâm confused now âŚlol
A bitcoin wallet stores private keys required to initiate a transaction. There are no coins actually stored in/by the wallet, but the keys it controls effectively demonstrate ownership of a given bitcoin address, with which some balance of bitcoin may be associated. If sending bitcoin, a wallet serves to digitally sign the transaction and broadcast it the transaction to the bitcoin network.
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A bitcoin wallet creates transactions and stores private keys that are used to sign these transactions.
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BTC wallet stores the private key, wallet signs and creates transactions.
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The bitcoin wallet holds the private key , generates public keys and sign transactions. VERY SIMPLYâŚ
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- Describe in short what a bitcoin wallet does.
A wallet stores private keys, and it initiates transactions by creating and signing a transaction and broadcasting it to the network for verification. Wallet also notify when you receive funds and let you read the blockchain once the network updates its data with the confirmed transaction.
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No wallet holds any coins, just the keys to access them on the blockchain. That would mean you would loose all your coins if you loose the device, but you can import your keys to a new one and the coins will appear there. 
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Homework on Role of Wallets - Questions
- Describe in short what a bitcoin wallet does.
Bitcoin wallet: not a physical item but software program for holding and trading BTC, itâs stores your private key, facilitates the sending/receiving of BTC and give ownership of the BTC balance to the user, broadcast transactions to the nodes for verifications, the wallet doesnât store coins just private key and initiates transactions with private key.
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Store Crypto(offline or online).
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A bitcoin wallet is like a keychain. It stores my private Keys and signs transactions.
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A bitcoin wallet store your private key, sign and send transactions to nodes and receive notifications if you receive some value.
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- Describe in short what a bitcoin wallet does.
A Bitcoin wallet stores your private keys. It will create and send transactions when you want to send Bitcoin. It will also read the blockchain to receive Bitcoin.
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The purpose of the wallet is to store a private key, which gives access to your funds on the blockchain and it signs transactions
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1. Describe in short what a bitcoin wallet does.
- stores the private key
- signs transactions with the private key
- broadcasts transactions
- provides a wallet adress for receiving transactions
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